Mark Dakes’ Post

As the Super Bowl draws near, all eyes are on The Sphere 🔮 with its $2 million advertisement slots for 12-hour blocks. But the journey of the iconic venue began with daunting challenges. Construction commenced in September 2018, only to be met with the pandemic a year later. With live event demand screeching to a halt, the future of performances seemed uncertain, putting The Sphere's ambitions on shaky ground. Now, 5 years later, The Sphere has transformed into one of the globe's most distinguished venues. But how did they navigate through the downtimes? Unwavering vision and strategy. 🎯 SPHR, the holding company behind the venue and other Vegas staples, strategically doubled down on The Sphere through the troubles ⬇️ 📅 November 2020: SPHR financed $650 million in debt to strengthen their balance sheet through the pandemic. 📅 April 2023: SPHR spins off the live entertainment business — shows, live sports, etc. 📅 May 2023: SPHR sells Tao Group and the associated nightclub business for more cash to finance The Sphere. By mid-2023, SPHR was running lean, only operating MSG Networks and directing the rest of its resources toward launching the new venue. Pressure was mounting on The Sphere to pay off in a big way. 💰 And pay off it did. In its inaugural full quarter, The Sphere brought in $167 million in revenue, more than its counterpart MSG Networks had made in any of the past 10 quarters. We'll see how the Super Bowl quarter impacts the revenue metrics and the announcement of new events including: 🐟 Phish shows 💀 Dead and Company residency 🥊 UFC event 🏒 NHL draft With a full show lineup and the Super Bowl ad campaign, The Sphere looms large as a key player in the nation's entertainment landscape for years to come. #thesphere #advertising #superbowl #sportsanalytics

A couple of GREAT definitions of AN EXPERIENCE: I recently got my new issue of SEAT Magazine, published by President Amanda Verhoff and the team at ALSD, an Association that collectively is focused, among other things, on ELEVATING THE EXPERIENCE at our favorite sports and entertainment venues. In this issue, beside enjoying the stories and photos of winners in the different “Best of” categories associated with the stadiums and arenas, what caught my eye were answers in the Q&A section from a couple of long-term veterans of the industry. I thought the quotes well-worth sharing as applicable and a useful reminder to any who host visitors to their 'house of business' and strive to standout from other (competitors) with a similar offering: Q – How do you define an Experience? A - Annemarie (Anne) Hastings – a 20-yr veteran w/ the San Francisco Giants: “An Experience evokes a feeling that makes you want to share it with others. (...)It leaves an impression... creates a memory. And stays with you long after a greeter calls you by name.. (…...)..... A - Jeff Morander long-time executive in the NHL: An experience is an encounter with an event where you not only observe, but also feel the event. My takeaway: It's all about FEELINGS wo-o-o Feelings,........... (but, no, not the 70's hit song by Morris Albert). Rather it's about making that game/appointment/visit/trip/stay/flight an experience that will remain a special memory for them, and about which they will 1) want to tell their friends, and 2) return again). It involves connecting with Guest on an EMOTIONAL level far beyond and much deeper than merely at a rational, transactional level. THAT is an ELEVATED EXPERIENCE. THAT is HOSPITALITY …...... Succintly put, Annamarie and Jeff. Well said. #hospitality

GMA Consulting Founding Partner & Managing Director Josh Swissman, MBA was featured in a recent article discussing Las Vegas' transformation into a premier sports destination. In "Sin City to Sports Heaven: Las Vegas as an Athletic Destination" by Jess Marquez of Global Gaming Business, Josh highlights the factors that have cemented Vegas as a top choice for major sporting events. From the city's unique hospitality infrastructure to its unparalleled ability to host major events like the Super Bowl and the F1 Las Vegas Grand Prix, Josh explains why Las Vegas stands out as a sports hub. As Josh puts it, "Las Vegas continues to execute events on a scale and at a level of quality that no other destination can rival." This success is reflected in Vegas' ability to attract record-breaking attendance for teams like the Aces and the Golden Knights, as well as generate significant economic impact from special events. Read the full article to learn more about how Las Vegas has become a top-tier sports city: https://lnkd.in/ei2T9rJ3 #SportsBusiness #LasVegas #SportsDestination #GMAConsulting #Leadership #Hospitality

📊 Data-driven decision-making is critical for successful brand partnerships. If you couldn't make our Brandweek panel today, here are 4 takeaways, you don't want to miss! -Clear Objectives are Key: In large partnerships, clarity in objectives is crucial for both sides. Transparent goal-setting is essential for measuring success effectively. -Data Drives Partnerships: Data and measurement depth are vital for brands entering marquee partnerships. The example of BMO's excitement to work with Los Angeles Football Club (LAFC) due to data showcases this. -Leverage IP: Marquee sports partnerships go beyond stadium signage. Brands should maximize the use of Intellectual Property (IP) for maximum impact. 🥊 -Conversion from Awareness to Consideration: Generating billions of impressions is one thing, but the real focus should be on converting even a small percentage of those impressions into brand recall and consideration, as discussed by Katrina Palanca & Katie Keating from Spurs Sports & Entertainment & Frost Data can be overwhelming. Learn more about defining your partnership objectives before diving into data intelligence here. >>https://bit.ly/3AhbQh0

Great data in this Sports Business Journal article showcasing the growth of sports tourism. The numbers speak volumes with tournament operations spending exceeding $3 billion and an impressive fiscal tax impact of $6.6 billion. From the current buzz of the NCAA March Madness tournament to the numerous impactful community-level events nationwide, sports tourism has an undeniable growth trajectory.

As a future professional in sports management, I'm intrigued by the economic intricacies governing major events like the Super Bowl. This New York Times article sheds light on the economic analysis behind setting ticket prices for the Super Bowl, emphasizing the importance of balancing supply and demand to maximize revenue while ensuring fan accessibility. By understanding factors such as stadium capacity, team popularity, and matchup significance, sports management professionals can implement strategic pricing strategies, such as dynamic pricing, to optimize ticket sales and enhance fan experiences. In my future career, I aim to leverage economic analysis to contribute to the success of marquee events like the Super Bowl by implementing innovative pricing strategies that strike a balance between profitability and fan affordability, thereby driving sustainable revenue growth and maintaining the event's status as a pinnacle of sporting excellence and economic success. #mereditheconomics https://lnkd.in/gx8eGmFM

Sports Business Journal will host its DRIVE event this week. Attendees can expect: 🏀 Best practices for building and growing a sports franchise 🏀 Discussions on fostering an organizational culture that drives innovation 🏀 How facilities can create data-driven revenue growth 🏀 Innovative methods of driving fan loyalty and upgrading the fan journey Subscribe to the Industry Calendar to learn more #sportsmarketingevents #sports 

Come listen to Gather's latest Podcast with some of the greatest minds in sports #Sponsorship talk about the current landscape around #WomensSports. We also have our first industry research report, focused on the relative sponsorship rates between Men's and Women's professional sports by Fortune 500 Companies. Also, I'm on this month's Pod, so there's some extra incentive to listen in. Please jump into the discourse: where do you think these sponsorship numbers will be for next season or the season after? Are women’s sports sponsorships having a moment or a movement? Enjoy!

Topgolf is one of the most successful sports entertainment complexes with over 80 locations in the US and nearly 100 venues worldwide. ⛳ Learn their blueprint for scaling up without sacrificing profit in our webinar this week on Friday June 28 at 10 AM CDT. Topgolf’s Director of Business Strategy, Michael Miller joins us for a conversation on strategies to launch new locations, ensure ongoing profitability at existing ones, and how to take a swing towards innovation with both current priorities and future plans. 💯  RSVP now with the link in the comments below. #HospitalityGrowth #HospitalityOperations 

Had an incredibly insightful conversation with Scott Gwartz, Executive Director of Corporate Partnerships at the Los Angeles Lakers! He dropped gems about strategic planning and relationship building that goes into securing and managing lucrative partnerships for a historic franchise like the Lakers. Here are 3 key takeaways from our discussion: 🟡 Balance is Key: ↳ Scott emphasized the importance of maintaining a healthy work-life balance, even within the fast-paced world of sports partnerships. This is definitely a culture I can get behind! 🟣 Strategic Brand Synergy Matters: ↳ Successful partnerships are built on a strong strategic foundation. Aligning the Lakers' brand values with those of the corporate partner is essential for a mutually beneficial relationship. 🟡 Building Relationships: ↳ At the end of the day, it's all about people. Scott highlighted the importance of building strong relationships with partners, fostering trust and open communication for long-term success. Scott's passion for the Lakers and his expertise in corporate partnerships were truly inspiring! Our conversation has further solidified my decision in pursuing a career in sports marketing, particularly within the National Basketball Association (NBA). Thanks again Scott for your time and insights! #NBA #Lakers #CorporatePartnerships #Networking #Business #LinkedInSports